Nobody downloaded yet

Management on Decision-making Principles - Term Paper Example

Comments (1) Cite this document
Summary
This term paper aims to focus on a real life problem, relate it to the existing decision-making principles prevalent, and the analysis of such principles in relation to the existing problems. Here the example of NASA has been included to understand their decision-making framework. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.9% of users find it useful
Management Term Paper on Decision-making Principles
Read TextPreview

Extract of sample "Management on Decision-making Principles"

Download file to see previous pages The New York Times also revealed that the space agencies are worried for the catastrophic shuttle accidents that took place in this decade. It has become a threat for the aeronautics and space research sector. The agencies are estimating the catastrophic failure in fiery gradient to the orbit at 1 in 78. An accident of such a stature would destroy the shuttle and kill the astronauts as well. The most risky period in the flight is the ascent, as during this time the engines run at a hazardously high speed, pressure and temperature. The risk of such grim accidents is high despite the three successful flights even after the Challenger disaster. Risk is a major policy issue that NASA needs to consider for their risk management programs. NASA has already proposed a $25 billion worth of space station for transporting the materials and the astronauts on the shuttle and also for the maintenance work, but the risks associated with the programs still prevails (Broad, 1989). Bloomberg revealed that NASA is planning to launch its most expensive and ambitious Mars mission. This also would not be easy because the complicated design of the rover is very risky and it has been termed as “seven minutes of terror”, as it takes about 13,000 mph to complete stop. So this is another risky venture of NASA, which is in the process. The latest estimates of risk of NASA suggest that shuttle accidents are likely to occur even before the space station is completed. It is said that if any other incidents or accidents take place after this, it would cripple the space program and the ambitious projects which NASA is planning in near future (Chang, 2012). For funding the space programs NASA has to keep its audience interested in their programs. The company compares its economic and political...
The study was designed keeping in mind the management principles that are required for the decision process to reduce various organizational risks. The solution might differ from organization to organization, but the strategic framework or motives are more or less similar. Here the example of NASA has been chosen to capture few decision-making models which they utilize to avert the disasters that are occurring frequently with their space shuttle. These disasters not only result in loss of life, but also wastage of funds and useful resources.
The newspaper articles have been referred to, for highlighting the disasters that took place in NASA with relation to their space shuttle. The lives of the astronauts were scarified and government generated funds for such significant and expensive missions were wasted. In the statement of principle the triple risk model of NASA has been explained, along with the RIDM process, which is the decision-making model followed by NASA. It consist of risk analysis, environment analysis and performance management. These models work on the seven principles, based on the theories of strategic management. Though NASA’s projects are designed based on these decision-making models and the principles stated above, but disasters happen due to negligence, which can be only eradicated if the space managers follow the principles of management set within the organization.
...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Management Term Paper on Decision-making Principles”, n.d.)
Management Term Paper on Decision-making Principles. Retrieved from https://studentshare.org/management/1401663-management-term-paper-on-decision-making-principles
(Management Term Paper on Decision-Making Principles)
Management Term Paper on Decision-Making Principles. https://studentshare.org/management/1401663-management-term-paper-on-decision-making-principles.
“Management Term Paper on Decision-Making Principles”, n.d. https://studentshare.org/management/1401663-management-term-paper-on-decision-making-principles.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
an
anabrakus added comment 10 months ago
Student rated this paper as
This paper saved me today. I liked the style. It was very useful for my management course.

CHECK THESE SAMPLES OF Management Term Paper on Decision-making Principles

Supply Chain Principles

...of the supply chain management. The first principle is based upon the fact that if the companies do not possess adequate comprehension of the customer requirement, it becomes quite difficult for them to construct a proper supply chain. Therefore, it is quite significant to possess adequate knowledge of the customers. The second principle states that it is imperative to adopt lean manufacturing which will assist in gaining operational excellence. The third principle states that it is quite vital to generate a supply chain information infrastructure which will assist in gaining competitive advantage. The companies must integrate the business processes so that they can...
8 Pages(2000 words)Term Paper

Art- Principles of Design

...? (YOUR (THE The Artist and the Principles of Design The principles of design in the different fields of art is a very complex matter because each design has its own meaning and accompanying interpretations with relations to the appropriate movement that that art form has fallen into. The concept of design is also different for several artists because, in a way, the subjective point-of-view is always prevalent in the minds of the particular artist. This essay will hence show the varying principles of design through three different artists and the respective art forms that they are engaged into. This paper will first discuss Luis Barragan’s Torri Satellites in the context of Modernist architecture. Then it will proceed to Benvenuto... ...
5 Pages(1250 words)Term Paper

Principles of Finance 1

...? Principles of Finance Principles of Finance The principles of finance include valuation principles, risk management, finance and investment principles. An understanding of these principles will provide the financial manager with the analytical tools necessary in the decision-making process in solving financial problems. The resources of firms are scarce; thus, investment decisions should be made wisely. Market prices are essential components of a financial manager in his decision-making process. Prices of goods and services are necessary inputs in almost all cost-benefit analysis that are undertaken by the company. The risk and return of the proposed investment project requires a study of the project’s cash flows. To analyze... of the...
2 Pages(500 words)Term Paper

Management Principles of Pursuit of Happiness

...?Full Management Principles in Pursuit of Happyness The Pursuit of Happyness portrays the difficult yet colorful life of Chris Gardner who, together with his son faced the atrocities of life and proved that tough people can outlast tough times. The main character is a picture of a businessman who learned the hard way, investing at first in machines that were considered expensive yet useless to doctors, causing him to dispose them so gruesomely slow and consequently making the availability of money to the family so tight. In any business, money is the language people speak, even in the business of families. When money is not smooth-flowing, members of a company or family could break apart, leaving broken...
3 Pages(750 words)Term Paper

Principles of criminal liability

...? Principles of Criminal Liability Principles of Criminal Liability Criminal liability is the base through which we are able to form the logical structure on which the Criminal Law is standing. The principles of criminal liability are those elements of crime that have occurred or not but have to be proven by the prosecutor. Some of the crimes involve a subset that includes all the principles of the liability and thus, these are known as “crimes of criminal conduct”, whereas some of the crimes involve the need of all the principle liabilities and these are known as “true crimes”. The rule that says that the prosecutor has to prove every element of the...
7 Pages(1750 words)Term Paper

Principles of Marketing

...Principles of Marketing Short Answers – In the spaces provided, please provide a detailed answer to the following Based on the branding terms from the “Elements of Product Planning” chapter, please identify a Brand for each of the categories below and the primary buying motivations of the customers. Type of Brand Example of a Particular Brand (Company) What is the Primary Buying Motivation for Customers seeking this Classification of Brand? 1. Generics sellotape Customers classify products under generic brand names because of a particular brand been dominant in the market or having existed in the market for a long time. For instance, brands such as sellotape, Hoover and biro are considered more than just brand names but a noun... of...
6 Pages(1500 words)Term Paper

Principles of Criminal Investigation

...Principles of Criminal Investigation This term paper aims at looking into the Green River Killer case and particularly the investigative techniques used during the case. The case of the Green River Killer ranks among other serial killing cases persisted for almost two decades without ever bringing anyone to book over the killings. In the 1980s, dozens of women were murdered in unknown circumstances and the bodies disposed within the vicinity of the Green River. The killing continued for several years without any idea of those who did it despite the fact that the murdered women could be linked with prostitution. However, lack of advanced forensic technology in the 1980s can be regarded as one of the reasons it took too...
6 Pages(1500 words)Term Paper

MANAGEMENT PRINCIPLES

... Introduction In coming up with the 14 principles, Fayol had a feeling that management was no fully define. Inhis attempt to bring changes, he came up with general teachings about management that could be applicable both to “primary schools” and higher education. His commitment towards the idea is seen when he retired in his work, he went to publish books on management principles. He further founded the Centre for Administrative Studies where he interacted with professionals from various professions so as to further his understanding on management principles. Initially, Fayol had discussion in his mind when he came up with the principles. He said, “Will the principles have any management code?” in his discussion, it shows that his... ...
5 Pages(1250 words)Term Paper

Biological principles

...Biological Principles Biological Principles The differences between prokaryotes and eukaryotes The basis of many types of science, including microbiology can be defined by the structure and function of the living body. The living cells can be molecularly categorized into two different types of cells that assist in the structure and function of the particular organism. It is common knowledge that all living things are made up of cells. Cells are the basic building blocks of a living body. In order to form a complex body the cells are grouped into tissues and the tissues in turn form organs. The multitude of these organs is retained by complex organisms such as animals and plants (Gunning & Steer, 1996)....
6 Pages(1500 words)Term Paper

Principles of Management . Discussion Board # 6

...HRM Guide Question What is the HRM Guide? HRM Guide refers to an independent publisher of content relating to human resource management. It is a combination of websites with the commonality of publishing information pertaining to human resource surveys, training, research, employment law, etc. (Hrmguide.net par. 1). Question 2.Select and summarize an article on work/life balance under the "Employee Relations" HR topic. Telecommuting better than office working A telecommuter is an individual who works from home by the use of an electronic linkup with a central office. Research shows that this kind of arrangement offers more job satisfaction than an office setting even when it requires more working hours than the office....
1 Pages(250 words)Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Management Term Paper on Decision-making Principles for FREE!

Contact Us